Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:

Frank Constantinople, SVP Investor Relations

Tel: +1-203-504-1063

fconstantinople@aircastle.com

The IGB Group

Leon Berman

Tel: +1-212-477-8438

lberman@igbir.com

Aircastle Announces Third Quarter 2013 Results

Quarterly Dividend Increased 21% to $0.20 per Share

Highlights

Stamford, CT. October 31, 2013 – Aircastle Limited (the “Company” or “Aircastle”) (NYSE: AYR) reported a third quarter 2013 net loss of ($74.6) million, or ($0.95) per diluted common share, and an adjusted net loss of ($69.1) million, or ($0.88) per diluted common share. The third quarter results included operating and finance lease rental revenues of $165.3 million, an increase of 1.4%, versus $163.1 million in the third quarter of 2012.

The third quarter 2013 results include $106.1 million of non-cash impairment charges consisting mostly of charges related to our annual fleet review totaling $97.6 million. These impairment charges relate to six 747-400 converted freighter aircraft and one 737-700 aircraft. Excluding these charges, third quarter net income was $21.0 million or $0.27 per diluted share, and adjusted net income was $26.5 million, or $0.34 per diluted share.

Also during the third quarter we recorded a non-cash impairment charge of $8.5 million related to the sale of one 23-year old 767-300ER. This charge was offset by end of lease maintenance revenue and early lease termination fees totaling $12.9 million.

Commenting on the results, Ron Wainshal, Aircastle’s CEO, stated: “Aircastle’s operating results during the third quarter were excellent as we achieved 100% utilization for our fleet while maintaining high rental yields. The Company benefitted from strong portfolio management and favorable market conditions, with the exception of the air freight sector, where stagnant demand and increasing supply has resulted in a capacity glut and depressed lease rates. Accordingly, while all of our aircraft are on lease, we wrote down the carrying values of our 747-400 converted freighters on short term leases.”

Wainshal added, “Aircastle’s investment activity this year has been robust. To date, we closed or secured $1.5 billion in investments for this year and an additional $210 million which we expect will close during the first quarter of 2014. These acquisitions are deploying the capital provided through our partnership with Marubeni in an accretive manner while enhancing the Company’s strong and sustainable cash flows. Consistent with our philosophy to share increases in the Company’s earnings base with shareholders our Board increased the quarterly dividend to $0.20 per share, an increase of 21% since last quarter and double the level since the beginning of 2011.”

Third Quarter Results

Lease rental and finance lease revenues for the third quarter were $165.3 million, up $2.2 million, or 1.4%, period over period, due primarily to the impact of aircraft acquisitions net of sales of $9.8 million, partially offset by the impact of extensions, transitions and early lease terminations of $6.4 million and the conversion of operating leases to finance leases of $1.2 million.

Total revenues for the third quarter were $170.1 million, a decrease of $2.8 million, or 1.6%, versus the previous year. This decrease reflects $2.9 million of higher lease incentive amortization primarily related to acquisition of aircraft with lease premiums, and lower other revenues of $2.8 million driven by higher early lease termination payments received in the third quarter of 2012, along with $1.3 million of interest income from an aircraft-backed debt investment acquired in March of 2012 that was repaid in the first quarter of 2013. These reductions to revenues were partially offset by $2.2 million of higher lease rental and finance lease revenues and higher maintenance revenues of $2.0 million.

Adjusted EBITDA for the third quarter was $169.2 million, up $3.0 million, or 1.8%, versus the third quarter of 2012. Higher lease rental, finance lease and maintenance revenues of $4.2 million, higher gain on the sale of flight equipment of $3.1 million and lower maintenance expenses of $2.0 million were partially offset by lower interest income and lower other fees and revenues of $4.1 million and higher expenses of $2.2 million. Unrelated to the 767-300ER end of life aircraft referenced earlier, the gain on the sale of flight equipment was primarily associated with a second 767-300ER that we sold during the quarter for a gain of $3.0 million.

The net loss for the third quarter was ($74.6) million versus a net loss of ($45.8) million in the third quarter of 2012. The higher net loss was primarily driven by $27.5 million of higher aircraft impairment charges taken against the total of eight aircraft in the third quarter of 2013 versus the prior year’s third quarter. In addition, total revenues declined by $2.8 million while interest expense increased $3.7 million and depreciation expense rose by $2.1 million. Offsetting this were higher gains on the sale of flight equipment of $3.1 million, and lower maintenance costs and taxes of $4.3 million. Net income was $21.0 million, or $0.27 per diluted share, excluding the non-cash impairment charge related to our annual fleet review.

The adjusted net loss for the quarter was ($69.1) million, versus an adjusted net loss of ($37.5) million the prior year. The $27.5 million increase in impairment charges, a $2.1 million increase in depreciation and an increase in adjusted interest and other expense of $6.3 million was partially offset by a $3.1 million gain on the sale of flight equipment and lower taxes of $2.3 million. Adjusted net income was $26.5 million, or $0.34 per diluted share, excluding the non-cash impairment charge related to our annual fleet review.

Aviation Assets

Thus far in 2013, we have closed or committed to acquire 25 aircraft for $1.5 billion. Approximately $525 million of these investments were closed during the third quarter and $480 million are expected to close by the end of 2013. We also secured $210 million in acquisitions which we expect to close during the first quarter of 2014. During the third quarter we sold one 767-300ER and two 757-200 aircraft and recorded gains from the sale of this flight equipment totaling $3.1 million. In addition, as discussed above, we sold a 23-year old 767-300ER, recorded an $8.5 million transactional impairment and recorded $12.9 in maintenance revenue and early termination fees.

As of September 30, 2013, Aircastle owned 161 aircraft having a net book value of $5.1 billion. Of this total, 80 aircraft with a net book value of $2.7 billion are unencumbered. Including unrestricted cash, total unencumbered assets were $3.0 billion.

Fleet Review and Asset Impairments

During the third quarter of 2013 we recorded $106.1 million of non-cash impairment charges, of which $97.6 million related to our annual fleet review. Due to sluggish market demand, increased supply, depressed lease rates and rising storage levels for large, dedicated freighter aircraft, we impaired six Boeing 747-400 converted freighter aircraft for $88.6 million to write down these aircraft to their current market value. During the quarter we also impaired one mid-age Boeing 737-700 aircraft for $8.9 million. The total net book value for these seven aircraft was $313.2 million at the end of the second quarter of 2013. All seven aircraft are currently on lease.

The impairment charges taken during the quarter reflect our current estimates of future lease rates and residual values associated with these aircraft in the current market environment. We concluded that these assets will not recover from their current market levels.

In addition, during the quarter we agreed to early terminate the lease and sell one 23-year old 767-300ER aircraft, and recorded an $8.5 million impairment which was offset by $12.1 million of maintenance revenue and $0.9 million of other early termination revenue.

Common Dividend

On October 29, 2013, Aircastle’s Board of Directors declared a fourth quarter 2013 cash dividend on its common shares of $0.20 per share, payable on December 13, 2013 to shareholders of record on November 29, 2013. This is a 21% increase over the previous quarter’s cash dividend.

Since early 2011, we have repurchased 11.7 million common shares at an average cost of $11.87 per share, and we continue to have $30 million remaining under the current repurchase authorization.

Financing Update

On July 12, 2013, we successfully completed the issuance to Marubeni Corporation of 12,320,000 common shares, representing 15.25% of Aircastle’s issued and outstanding common shares, after giving effect to the issuance, at a price of $17.00 per share, for gross proceeds of approximately $209 million. Combined with additional subsequent purchases of Aircastle common shares in the secondary market, as of October 28, 2013, Marubeni Corporation owned a total of 14,389,100 shares, representing approximately 17.8% of Aircastle’s issued and outstanding common shares as of the end of the third quarter.

In early August, we increased our unsecured revolving credit facility from $150 million to $335 million. We also expanded the bank group from four to seven global financial institutions and extended the maturity of the facility to a three year term to expire in August 2016.

In August of 2013, we also issued a fixed rate ECA bond with a face value of $78.2 million. The bond is guaranteed by COFACE and the proceeds repaid an interim floating rate bank financing associated with an A330-200 aircraft that we acquired in 2012. The bond has a fixed coupon rate of 3.488% and matures in 2024.

Conference Call

In connection with this earnings release, management will host an earnings conference call on Thursday, October 31, 2013 at 10:00AM Eastern time. All interested parties are welcome to participate on the live call. The conference call can be accessed by dialing (800) 967-7138 (from within the U.S. and Canada) or (719) 457-2607 (from outside of the U.S. and Canada) ten minutes prior to the scheduled start and referencing the passcode “6107583”.

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.aircastle.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast. A replay of the webcast will be available for one month following the call. In addition to this earnings release, an accompanying power point presentation has been posted to the Investor Relations section of Aircastle’s website.

For those who are not available to listen to the live call, a replay will be available until 12:00PM Eastern time on Saturday, November 30, 2013 by dialing (888) 203-1112 (from within the U.S. and Canada) or (719) 457-0820 (from outside of the U.S. and Canada); please reference passcode “6107583”.

About Aircastle Limited

Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of September 30, 2013, Aircastle’s aircraft portfolio consisted of 161 aircraft on lease with 68 customers located in 37 countries.

Safe Harbor

Certain items in this press release and other information we provide from time to time, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to our ability to acquire, sell, lease or finance aircraft, raise capital, pay dividends, and increase revenues, earnings, EBITDA, Adjusted EBITDA and Adjusted Net Income and the global aviation industry and aircraft leasing sector. Words such as “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “may,” “will,” “would,” “could,” “should,” “seeks,” “estimates” and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements; Aircastle can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this report. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from Aircastle expectations include, but are not limited to, capital markets disruption or volatility which could adversely affect our continued ability to obtain additional capital to finance new investments or our working capital needs; government fiscal or tax policies, general economic and business conditions or other factors affecting demand for aircraft or aircraft values and lease rates; our continued ability to obtain favorable tax treatment in Bermuda, Ireland and other jurisdictions; our ability to pay dividends; high or volatile fuel prices, lack of access to capital, reduced load factors and/or reduced yields, operational disruptions caused by political unrest in North Africa, the Middle East or elsewhere, and other factors affecting the creditworthiness of our airline customers and their ability to continue to perform their obligations under our leases; termination payments on our interest rate hedges; and other risks detailed from time to time in Aircastle’s filings with the SEC, including as previously disclosed in Aircastle’s 2012 Annual Report on Form 10-K, and elsewhere in this report. In addition, new risks and uncertainties emerge from time to time, and it is not possible for Aircastle to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this report. Aircastle Limited expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

Aircastle Limited and Subsidiaries

Consolidated Balance Sheets

(Dollars in thousands, except share data)

Aircastle Limited and Subsidiaries

Consolidated Statements of Operations

(Dollars in thousands, except per share amounts)

(Unaudited)

Aircastle Limited and Subsidiaries

Consolidated Statements of Comprehensive Income (Loss)

(Dollars in thousands)

(Unaudited)

Aircastle Limited and Subsidiaries

Consolidated Statements of Cash Flows

(Dollars in thousands)

(Unaudited)

Aircastle Limited and Subsidiaries

Supplemental Financial Information

(Amount in thousands, except per share amounts)

(Unaudited)

Refer to the selected information accompanying this press release for a reconciliation of GAAP to Non-GAAP information.

Aircastle Limited and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Effect of Non-Cash Impairment Charges related to Annual Fleet Review on Third Quarter 2013

Financial Results

(Unaudited)

Note: The tax effect related to the annual fleet review is $1,994 which reduces the non-cash impairment charge from $97,592 to $95,598. Per share amounts do not add due to rounding.

Aircastle Limited and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

EBITDA and Adjusted EBITDA Reconciliation

(Dollars in thousands)

(Unaudited)

We define EBITDA as income (loss) from continuing operations before income taxes, interest expense, and depreciation and amortization. We use EBITDA to assess our consolidated financial and operating performance, and we believe this non-US GAAP measure is helpful in identifying trends in our performance.

This measure provides an assessment of controllable expenses and affords management the ability to make decisions which are expected to facilitate meeting current financial goals as well as achieving optimal financial performance. It provides an indicator for management to determine if adjustments to current spending decisions are needed.

EBITDA provides us with a measure of operating performance because it assists us in comparing our operating performance on a consistent basis as it removes the impact of our capital structure (primarily interest charges on our outstanding debt) and asset base (primarily depreciation and amortization) from our operating results. Accordingly, this metric measures our financial performance based on operational factors that management can impact in the short-term, namely the cost structure, or expenses, of the organization. EBITDA is one of the metrics used by senior management and the board of directors to review the consolidated financial performance of our business.

We define Adjusted EBITDA as EBITDA (as defined above) further adjusted to give effect to adjustments required in calculating covenant ratios and compliance as that term is defined in the indenture governing our senior unsecured notes. Adjusted EBITDA is a material component of these covenants.

Aircastle Limited and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Adjusted Net Income (Loss) Reconciliation

(Dollars in thousands)

(Unaudited)

Management believes that ANI, when viewed in conjunction with the Company’s results under US GAAP and the below reconciliation, provides useful information about operating and period-over-period performance, and provides additional information that is useful for evaluating the underlying operating performance of our business without regard to periodic reporting elements related to interest rate derivative accounting and gains or losses related to flight equipment and debt investments.

Aircastle Limited and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Reconciliation of Net Income (Loss) Allocable to Common Shares

(In thousands)

(Unaudited)

Under the two-class method, adjusted net income (loss) per common share is computed by dividing the sum of distributed adjusted net income (loss) allocated to common shareholders and undistributed adjusted net income (loss) allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, distributed and undistributed adjusted net income (loss) is allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period. Because the holders of the participating restricted common shares were not contractually required to share in the Company’s losses, in applying the two-class method to compute basic and diluted adjusted net loss per common share, no allocation to restricted common shares was made for the three months ended September 30, 2012 and 2013.

Aircastle Limited and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Reconciliation of Net Income (Loss) Allocable to Common Shares

(In thousands)

(Unaudited)

Under the two-class method, adjusted net income (loss) per common share is computed by dividing the sum of distributed adjusted net income (loss) allocated to common shareholders and undistributed adjusted net income (loss) allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, distributed and undistributed adjusted net income (loss) is allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period. Because the holders of the participating restricted common shares were not contractually required to share in the Company’s losses, in applying the two-class method to compute basic and diluted adjusted net loss per common share, no allocation to restricted common shares was made for the three months ended September 30, 2012 and 2013.